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11045 East Fwy, Houston, Te...

Northern Tool & Equipment Leases Retail Space In Houston
LEASEDRetail

Northern Tool & Equipment Leases Retail Space In Houston

11045 East Fwy, Houston, Texas 77013, United States

Building Size

31,000 SF

Asset Type

Retail

Closing

Feb 18, 2022

AI

The retail property located at 11045 East Freeway in Houston has recently been leased. The property spans a total of 31,000 square feet.

Summary of transaction details

The lease agreement for the property was facilitated by Shawn Ackerman and Jason Du from Henry S. Miller Brokerage, representing the landlord. Clay Mote from Retail Union and Jason Baker from Baker Katz were the tenant's representatives in the deal.

Players

Shawn Ackerman

Broker

$24M

vol

5 deals

Broker

Houston Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93